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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Loans, including fees $ 22,388 $ 16,259 $ 42,843 $ 31,871
Debt securities:        
U.S. Treasury and government agencies 1,035 857 2,058 1,608
Municipalities 322 289 622 597
Dividends 57 31 99 81
Federal funds sold 9 6 19 11
Other 100 88 169 127
Total interest income 23,911 17,530 45,810 34,295
Interest Expense        
Deposits 1,379 1,276 2,739 2,616
Federal funds purchased and securities sold under agreements to repurchase 166 163 318 329
Borrowed funds 218 115 553 337
Subordinated notes 284   553  
Total interest expense 2,047 1,554 4,163 3,282
Net Interest Income - Before Provision for Loan Losses 21,864 15,976 41,647 31,013
Provision for Loan Losses 1,628 641 2,208 2,341
Net Interest Income After Provision for Loan Losses 20,236 15,335 39,439 28,672
Noninterest Income        
Net gain on sale of loans 164 955 861 2,001
Net gain on sale of available-for-sale securities       293
Total noninterest income 3,320 4,027 7,663 9,018
Noninterest Expense        
Salaries and wages 5,366 4,591 10,868 8,981
Employee benefits 1,546 1,915 3,600 3,909
Net occupancy expense 522 546 1,120 1,123
Furniture and equipment 1,008 848 2,064 1,639
Data processing 654 428 1,258 933
Franchise taxes 757 294 1,175 740
ATM expense 544 459 1,076 908
Advertising 300 331 537 566
Net (gain) loss on sale of other assets owned (266) 227 (271) 202
FDIC assessment 270 276 384 512
Mortgage servicing rights amortization 59 524 85 1,029
Consulting fees 233 394 411 617
Other general and administrative 2,242 2,227 4,421 4,260
Total noninterest expense 13,235 13,060 26,728 25,419
Income Before Income Taxes 10,321 6,302 20,374 12,271
Income Taxes 2,050 1,319 4,001 2,379
Net Income $ 8,271 $ 4,983 $ 16,373 $ 9,892
Basic Earnings Per Share $ 0.63 $ 0.44 $ 1.25 $ 0.88
Diluted Earnings Per Share 0.63 0.44 1.25 0.88
Dividends Declared $ 0.2025 $ 0.1700 $ 0.3925 $ 0.3400
Customer Service Fees [Member]        
Noninterest Income        
Noninterest income $ 2,148 $ 2,198 $ 4,796 $ 5,012
Other Service Charges and Fees [Member]        
Noninterest Income        
Noninterest income $ 1,008 $ 874 $ 2,006 $ 1,712